Australasia
Australia IPOs: Best behavior
Public market investors in Australia have fallen out of love with private equity-backed IPOs. It's in the interests of both to get along, but they must find a way to rebuild trust
Cortina targets $100m for Australia cross-border fund
Cortina Capital, a private equity firm that invests in Australian health and wellness brands with export potential in China and other Asian markets, is looking to raise $100 million for its debut fund, AVCJ understands.
PropertyGuru seeks as much as $256m in Australia IPO
PropertyGuru, a Southeast Asia-focused online real estate portal that counts TPG Capital and KKR among its investors, is looking to raise up to A$380.2 million ($256 million) through an IPO in Australia.
Anacacia backs Australian industrial consulting business
Anacacia Capital has invested in Root Partnerships, which claims to be one of Australia’s largest independent infrastructure advisory and project management firms.
Affinity sells Australia ticketing business to Silver Lake
Affinity Equity Partners has agreed its second Australia exit in three weeks, with Silver Lake set to assume control of ticketing business TEG. It follows a deal to sell a 35% stake in Virgin Australia’s frequent flyer business back to the parent company....
PE-backed Latitude targets up to $946m in Australia IPO
KKR, Värde Partners and Deutsche Bank plan to make partial exits through an IPO of Australian consumer lending business Latitude Financial, which is expected to raise as much as A$1.4 billion ($946 million).
New Zealand's Fonterra exits pharma business to CVC
New Zealand dairy group Fonterra has agreed to sell its stake in DFE Pharma, a 50-50 joint venture with Royal FrieslandCampina of the Netherlands, to CVC Capital Partners for NZ$633 million ($398 million).
Skybound Capital acquires Australia's Fair Go Finance
Hong Kong-based private equity investor Skybound Capital has acquired a 60% stake in Australian online loans provider Fair Go Finance for A$20 million ($13.6 million).
Australia leveraged finance: Best blend?
Two years ago, unitranche structures were a novelty in Australia’s leveraged finance market. Now they are an integral part of it. For borrowers and lenders, there might be no turning back
Core-plus investment: Expectations game
Capital-flooded markets and rising pressures to deploy have precipitated more flexible investment strategies in private equity. GPs must be careful when crossing between asset classes
YBF Ventures, Honeywell launch real estate tech accelerator
Australia’s YBF Ventures and US conglomerate Honeywell have teamed up to launch a Sydney-based technology start-up accelerator for the real estate sector.
Affinity sells frequent flier stake back to Virgin Australia
Affinity Equity Partners has more than doubled its money on Virgin Australia’s frequent flyer business, having agreed to sell back a 35% stake to the parent company for A$700 million ($480 million).
Australia's Quadrant buys control of online beauty retailer
Quadrant Private Equity has completed the fourth investment in six months from its newly established growth fund, with the purchase of a majority interest in Australian online beauty retailer Adore Beauty.
Australian superfund consolidation to alter private markets strategies
Australia’s pension market is ripe for consolidation, which will see the emergence of a handful of mega superannuation funds that leverage their scale to bring more investment activity in-house, according to leading industry participants.
Future Fund stresses risk-reward balance in private market strategies
Institutional investors “should be thoughtful about balancing risk and reward” as they deploy more capital into private markets that present liquidity and valuation challenges, according to the deputy CIO of Australia’s Future Fund.
China PE compensation premium is shrinking - survey
The premium traditionally paid for deal-making talent in China over other Asian jurisdictions is narrowing and in some cases has turned into a deficit – in what might be seen as evidence of GPs looking to strengthen their coverage beyond the region’s...
Quadrant to acquire Australia's Love To Dream
Australia’s Quadrant Private Equity has agreed to acquire a majority interest Love To Dream, a domestic baby care brand focused on swaddles and sleepwear.
QIC to acquire Australian marine logistics player
Queensland Investment Corporation (QIC) has agreed to acquire 100% of Australian marine logistics provider Sea Swift, facilitating exits for CHAMP Ventures and HarbourVest Partners.
Sequoia leads $82m Series E for Australia's Culture Amp
Sequoia Capital China has led an $82 million Series E round for Culture Amp, an Australian enterprise technology provider focused on human resources (HR).
CDPQ joins Brookfield buyout of Australia's Healthscope
Caisse de dépôt et placement du Québec (CDPQ) has agreed to join Brookfield Asset Management in its buyout of Australian hospital operator Healthscope, taking a significant minority stake for a consideration of more than A$300 million ($202 million)....
Australia's CHAMP PE rebrands as CPE Capital
CHAMP Private Equity, which makes growth and buyout investments in middle-market companies across Australia and New Zealand, has been renamed CPE Capital.
Australia's Future Fund hires TPG executive
Future Fund has appointed Sid Khotkar, who has spent the past 12 years working for TPG Capital in Australia, as a director in its private equity team.
Cerberus to assume control of Australia's Axsesstoday
Cerberus Capital Management has agreed to acquire the operating assets of bankrupt Australian equipment finance specialist Axsesstoday.
Sovereign investors and technology: Smart nations
Conservative sovereign wealth investors are increasingly comfortable making direct commitments to venture-oriented technology companies. The strategy appears to suit them but remains to be validated